Whales Bet Big, XRP Rockets Higher!

XRP's price jumped 12%, driven by aggressive whale accumulation and ETF listing rumors.

Author

Danielle du Toit
January 15, 2025

​

See what Info about you is Exposed and then Take Back Control with Cloaked

Tech companies and data brokers profit off of your personal information. This makes you vulnerable to spam, fraud, and phishing attempts. Cloaked searches you across 120+ data brokers to remove your info. And then, generate unlimited email IDs, phone numbers to stand in place of your real identity.

Here's what we've got for you today:

  • XRP Spikes 12% as Whales Continue ‘Enormous Accumulation’ - Santiment

  • Elon Musk Faces SEC Lawsuit for Late Twitter Ownership Disclosure

  • NFTs Just Had Their Worst Performing Year Since 2020: DappRadar

  • Tether Relocates to El Salvador After Securing Operating License

XRP’s price surged and bucked the broader market trend, driven by aggressive whale accumulation and speculation about a possible ETF listing in the US.

  • XRP's price skyrocketed by 12% in one day to reach $2.83, fueled by speculation around a potential ETF listing in the US and optimism surrounding President-elect Donald Trump’s upcoming inauguration.

  • Crypto analysis firm Santiment reported that there has been massive accumulation by wallets holding 1 million to 10 million XRP tokens. In fact, the group gathered 1.43 billion XRP since Nov. 12.

  • David Gokhshtein, founder of Gokhshtein Media, praised XRP holders after a long year of tight price consolidation that saw only a 3.8% price difference between January and October 2024.

The US SEC filed a lawsuit against Elon Musk, alleging that he did not disclose his beneficial ownership of X in a timely manner.

  • The SEC alleges that Elon Musk delayed disclosing his Twitter stake after surpassing the 5% ownership threshold on March 14 of 2022, and only filed the report 11 days late on April 4, 2022.

  • The delay allegedly allowed Musk to buy additional Twitter shares at artificially low prices, underpaying by at least $150 million.

  • Musk criticized the SEC as a “totally broken organization” in an X post, and also accused it of focusing on minor complaints instead of addressing larger issues.

According to DappRadar, the non-fungible token (NFT) market in 2024 had its worst year for trading volume and sales since 2020. 

  • The 2024 Dapp Industry Report revealed a 19% drop in NFT trading volumes to $13.7 billion and an 18% decline in sales counts to under 50 million. This made 2024 one of the worst-performing years since 2020.

  • While Q1 trading volumes rose 4% to $5.3 billion compared to Q1 of 2023, the market experienced serious volatility and plummeted to $1.5 billion in Q3 before rebounding to $2.6 billion in Q4.

  • Despite lower sales counts, NFTs became generally more expensive in 2024, driven by rising token prices.

Tether announced its decision to relocate its headquarters and subsidiaries to El Salvador after securing an operating license in the country.

  • Tether, the issuer of USDT, announced that it is moving its headquarters to El Salvador after obtaining its second Salvadoran Digital Asset Service Provider (DASP) license in 2025.

  • Tether pointed to El Salvador’s supportive regulations and growing Bitcoin adoption as key reasons for the relocation.

  • The company also plans to back renewable energy initiatives in El Salvador, including geothermal energy projects powered by the country’s volcanoes.

👀 QUICK NEWS

MEME OF THE DAY

How did you like today's newsletter?

Login or Subscribe to participate in polls.

That’s it for today. Don’t forget to share Coinpaper Digest with your friends!